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News Explorer — CleanSpark's Stock Dropped 9.4% After Reporting a $378.3 Million Net Loss and Revenue Decline

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May 12, 12:35 pm
Coindesk

CleanSpark's Stock Dropped 9.4% After Reporting a $378.3 Million Net Loss and Revenue Decline

CleanSpark's stock plummeted over 9.4% in pre-market trading due to a $378.3 million net loss in the second fiscal quarter, driven by a significant non-cash adjustment to its digital asset holdings. Despite revenue dropping 25% year-over-year, the company expanded its infrastructure and increased its bitcoin holdings.

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